I started trading Forex back in 2005 when I discovered the world of Forex from a friend from work. He told me that he is making a lot of money trading Forex, and he invited me to his place to show me how things worked in real life.
I WAS COMPLETELY TAKEN ABACK when I saw my first live charts and learned how much could be made with a few mouse clicks.
So, my friend recommended the Global Pairs forex trading platform. Of course, I wanted to start trading right then and there, but it appeared that the minimum deposit was $250.
The deposit was low enough that I could start trading right away. It has been a year since I started using this broker, and now I feel like I can give a good in-depth review on this broker for all the beginners or even advanced-level traders looking for a decent online broker. I will not tell you whether this is the platform you need to use right away as that decision is your only. I will just tell you what I think of this broker and compare this to other top forex brokers.
About Global Pairs Forex Broker:
Knowing the basics before you start trading with any broker or sign up for an account with them is helpful. At first, all you need is a good platform to don’t get your account frozen or hacked by a thief.
From what I have read on their website, it appears that they are doing a good job providing traders with the best tools to get profitable results day after another.
Here is what’s in the name of the broker:
Global Pairs claims to provide their traders with more than just a good platform. They claim that they have some secret formula in their trading strategy so that their clients can be profitable no matter if there is a bull or bear market condition on the forex charts at a given time.
Of course, there is no perfect strategy, so it is hard to tell if this broker has something that other brokers don’t have. However, they appear to be doing a good job from what I have seen on their website and read about them from traders that started using their services.
Global Pairs claims that they have years of experience in the trading world, so they know how to properly operate their forex broker business. Their claim is true as they provide traders with a good platform and excellent support whenever there is an issue or question from newbie traders.
They also claim that they have a training program for new traders to invest their money very quickly. Of course, this is true since most brokers out there don’t have any type of training programs or trading strategies to assist novice traders. To give you an in-depth review, I want to start with the minimum deposit required from new traders.
Minimum Deposit Required:
To open a live account with Global Pairs, you will need to deposit at least $250 into your trading account. You can buy any currency pairs you want using this deposit. If you don’t have this much money saved up, then you can get a $50 bonus when you make your first deposit of $500.
You also need to know that this broker has no fees for withdrawing or depositing money into your trading account.
The minimum deposit is very reasonable, and it makes sense that you can trade up to 1:100 leverage with this amount deposited into your account.
The broker provides multiple deposit options such as credit cards like Visa, MasterCard, or debit cards like Maestro and Wire transfer.
Of course, a bank transfer is a very popular method for both depositing and withdrawing money from most online brokers, so it comes as no surprise that Global Pairs can provide you with bank transfers to deposit or withdraw your hard-earned money into or out of your trading account.
I like how they offer multiple deposit methods because I used a credit card when I didn’t have a bank account to fund my trading account. It is nice that they offer this option because most brokers don’t accept secured credit cards or debit cards for funding their forex accounts.
This is another important factor to consider when opening an account with a forex broker. You want to make sure that they have low or at least reasonable spreads before you sign up for an account with them. It is very hard to be profitable if your broker has high spreads on the currency pairs that you are trading.
Global Pairs can provide their traders with very low spreads on most of the currency pairs traded on the market. According to my research, they have an average spread of 2 pips which is very good for trading any forex pair.
Negative Balance Protection:
This is extremely important, especially for novice traders who are just getting started. You don’t want to sign up with a broker that can take your money away if you lose more than what you originally deposited into your account. Global Pairs offers protection against negative balances, which means that you will have to trade carefully, so you don’t lose all your money.
This is great news for any traders out there who are looking for a broker that can help them avoid unnecessary risks while trading forex pairs.
Unfortunately, not all brokers will provide you with high leverage, so you can trade large amounts of money using a small deposit. However, Global Pairs offers up to 1:400 very good leverage, and it should be more than enough for any new traders out there who want to make profits as fast as possible.
If you are interested in trading micro-lots, this broker has no restrictions on these lots.
24/7 Customer Support:
This is very important because most online brokers only offer customers some type of customer service during certain parts of the day or week. Global Pairs offers 24/7 customer support over the phone and live chat, so you can contact them whenever you have a question or problem with your account. My experience with their customer support has been good because they quickly respond and are helpful.
You can call them on +611800965904, or you can get in touch through a live chat over their website.
This is very important because you need to learn more about trading before you jump in and start making any transactions with your money. Global Pairs offers a free trading guide and educational videos to help novice traders get started on the right foot.
They also have other features such as an economic calendar, trading signals, and a mobile trading platform, covering the basics.
Any profit-making trader knows that it is always good to know what’s going on in the global economy so you can make more informed decisions. Global Pairs offers an economic calendar that will allow you to see any major news or events taking place so you can plan your trades accordingly.
Another good feature that Global Pairs offers their traders is an interactive trading signals service. You can easily subscribe to a signal that a professional trader provides, and this will allow you to copy his or her trades in real-time. This is a great way for any new trader to learn how the market works because you are getting free access to a professional trader’s account.
Global Pairs offers webinars for any traders who want to learn more about trading. They hold these webinars regularly, so you can always attend one whenever you please. Their webinars are designed for novice to expert level traders, so they have something for everyone.
They offer some free educational eBooks that can teach you about trading and give you some tips on how to make more money. These, too, are designed for novice traders, so they want to help you get started by giving you all the information, tools, and resources needed.
Things The Broker Can Improve:
Here are some of the things that Global Pairs should improve on.
While their trading platform is very easy to use, they don’t provide any advanced charting tools, which means you won’t be able to investigate the future. Of course, this is not an important feature for novice traders, but it does help professional traders who need more control over their trading.
They should also work on their theme and make it more modern and appealing. They only offer the default WordPress theme, which looks good but not as good as some other brokers out there that have made their own.
In conclusion, there are many important factors to consider when choosing a new forex broker, so you must use this information to avoid making an impulsive decision on which online forex broker to open your account with. Global Pairs has many great features, and they can provide you with a trading account that will allow you to make lots of money if you know how to trade forex markets.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.